United States MBA Mortgage Applications dipped from previous 25.5% to -27.6% in October 9

David Folkerts-Landau, Group Chief Economist at Deutsche Bank, notes that the financial markets continue to be dominated by speculation over the timing of Fed rate hikes and concerns over the health of the global economy but, the Fed’s delay puts pressure on the ECB and BoJ to ease further and we now expect an extension of ECB QE in coming months.